EMPIRE LIFE
MONTHLY INCOME MUTUAL FUND

Series A Mutual Fund as of April 30, 2025

PORTFOLIO MANAGER Jennifer Law, CFA Ian Fung, CFA Empire Life Investment Team	WHY INVEST IN THIS FUND You are seeking growth and income by investing primarily in Canadian equity and fixed income securities
FUND FACTS Asset Class Canadian Balanced Size (Mill) $54.2 MER (2019) 2.09 % Inception January 9, 2012 Total Holdings 254	RISK TOLERANCE low low to medium medium medium to high high
ASSET MIX Canadian Equities 49.5 % Canadian Bonds 36.9 % U.S. Equities 6.1 % Cash and Cash Equivalents 2.8 % International Equities 2.5 % U.S. Bonds 2.2 % SECTOR MIX Financials 29.2 % Energy 14.3 % Industrials 13.3 % Materials 9.3 % Information technology 8.4 % Utilities 7.5 % Consumer staples 7.3 % Real Estate 5.0 % Communication services 4.1 % Consumer discretionary 1.6 %	GROWTH OF $10,000 - SINCE INCEPTION For Illustration Purposes Only
TOP 10 HOLDINGS Royal Bank of Canada 3.3 % ROYAL BK OF CAD 2.65% 01MAY25 TD 2.6 % Enbridge Inc. 2.2 % Toronto-Dominion Bank 2.0 % Canadian Pacific Railway Limited 1.7 % WSP Global Inc. Com 1.5 % Brookfield Asset Management Inc. 'A' 1.4 % Microsoft Corp. Com 1.4 % Canadian Imperial Bank of Commerce 1.3 % Bank of Montreal 1.3 % Total of Top 10 18.8 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception 3.86 2.97 -3.45 -0.31 4.36 3.39   4.57 CALENDAR YEAR RETURNS 2014 2015 2016 2017 2018 2019 2020 2021 7.88 0.19 6.91 4.63 -5.93 11.10 3.33 13.25 RECENT DISTRIBUTIONS Dec-2021 Jan-2022 Feb-2022 Mar-2022 Apr-2022 May-2022 0.1023 0.0418 0.0418 0.0418 0.0418 0.0418 Jun-2022 Jul-2022 Aug-2022 Sep-2022 Oct-2022 Nov-2022 0.0418 0.0418 0.0418 0.0418 0.2293

Empire Life Investments Inc. is the Manager of the Empire Life Mutual Funds (the “Funds”). The units of the Funds are available only in those jurisdictions where they may be lawfully offered for sale and therein only by persons permitted to sell such units. Annual Compound Returns: Returns under 1 year are simple rates of return. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemptions, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. ^® Registered trademark of The Empire Life Insurance Company. Empire Life Investments Inc. is a licensed user of this trademark.